Zimpapers Logo

Minister Bimha

Tinashe Makichi Business Reporter
A Chinese company, Afrochine, which recently built a US$25 million chrome smelter in Selous has started phase two of the project to build four more smelters at a cost of US$100 million.
Speaking at the company’s business launch in Selous yesterday, Afrochine chairman in Zimbabwe Mr Phillip Man said the additional smelters would increase production capacity and create more jobs.

“The four smelting plants will have a combined capacity of 250 000 tonnes of ferro-chrome per year,” he said.
“Over 1 000 people are going to be employed after the completion of phase two, while another 300 will be employed in downstream industries.”

Mr Man said they were expecting annual turnover of US$300 million once the new smelters came on line.
The four plants will complement the first plant that was built under phase one, which has two furnaces and an annual output of 50 000 tonnes.

The plant, which will start operating soon, will employ more than 300 workers.
Mr Man said their investment tallied with the Zimbabwe Agenda for Sustainable Socio-Economic Transformation, which stresses the need for value addition.

“As Afrochine, we are aware of the economic blue print and what it says, we are willing to come up with initiatives that will ensure that it is implemented successfully,” he said.

Government banned chrome exports in 2011 and ordered mining companies to build smelters to promote value addition.
Industry and Commerce Minister Mike Bimha, who was guest of honour, hailed the company, and said the project signified a very big investment in chrome smelting.

“We continue to see the involvement of different Chinese companies in our economy and through this project it is quite clear that Chinese investors have absolute confidence in our economy,” he said.

“Industry needs appropriate technology for economic growth and as the ministry responsible we appeal to some of our friends to emulate the work being done by Afrochine.”

Afrochine private limited is a subsidiary of Tsingshan Iron and Steel Group of China, the second largest stainless steel producer in that country.

Zimbabwe has the world’s largest chrome reserves and most of them are yet to be exploited.